GNP is an abbreviation for Gross National Product.
Gross national product (GNP) is the market value of the goods and services
produced by labor and property supplied by U.S. residents. Because the
labor and property are supplied by U.S. residents, they may be located either
in the United States or abroad.
The difference between GDP and GNP is net receipts of income from the
rest of the world. These net receipts represent income from the goods and
services produced abroad using labor and property supplied by U.S. residents
less payments to the rest of the world for the goods and services produced in
the United States using labor and property supplied by foreign residents. The
income receipts and payments are measured as compensation of employees,
corporate profits (earnings of both incorporated and unincorporated affiliates),
|What is GNP (Gross National Product)?